how often you can file bankruptcyCan You File for Bankruptcy More Than Once?

They say that lightning never strikes twice in the same place, and that may be true. However, financial misfortunes come with no such guarantee. Job loss, divorce, business downturn, or serious illness can strike any family at any time, regardless of whether these families are good or poor money managers. This is because these financial storms, for the most part, are mostly or entirely beyond the debtor’s control. As a result, it is important to understand your rights in terms of how often you can file bankruptcy.

There are actually two considerations — the automatic stay and debt discharge (forgiveness) — and it is important to understand both these things.

What Is Automatic Stay?

Section 362 of the Bankruptcy Code prohibits moneylenders from taking adverse action against debtors. Moreover, that is one of the things that makes bankr